2.5% response from me as well 
I too got the email and went for 1.5% up to 4,000 but I think Monzo could’ve done a little better on explaining it.
Like others said, does it include non-interest pots? Is the interest paid monthly? Does it count committed spend until it’s actually left your account?
Maybe knowing the above questions I might’ve gone 2.5%
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Look like the answers aren’t all in the same order to try to counter response order effects which is good.
Personally I went for the 1.5%. I would want the interest to pay off as much of the Plus fee as possible on a reasonable-ish balance and to be equivalent to the top end instant savers in order stop me shifting the balance into a savings account.
| Balance Payable | Interest Rate | Annual Interest | Monthly Interest |
|---|---|---|---|
| £1,000.00 | 2.5% | £25.00 | £2.08 |
| £4,000.00 | 1.5% | £60.00 | £5.00 |
| £10,000.00 | 1.0% | £100.00 | £8.33 |
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This will be the winner for people who don’t want different accounts, and have multiple thousands to save.
Personally, at 1.5% I can put my money in a number of other accounts to get the interest.
Not to mention the average amount of savings for people are incredibly low, so they probably wouldn’t take advantage of the extra 3 grand (but I get what you are saying).
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It would be interesting to know what the average amount held in a Monzo current account is - for me personally I wouldn’t be able to get £4,000 in a current account and let it lie there, whereas £1,000 seems more manageable. £10,000 a far cry from possibility for me 
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I went with 1.5% for the same reasons above.
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I have between £1k and £4k in my account for about a week following payday. Then less than £1k for 3 weeks. Anybody good enough at maths to work out which percentage is best? Sounds like a GCSE maths question haha
This is my working (could be completely wrong) - also don’t know how to do a table so apologies.
- I assume you have £4,000 in an account for 7 days then £1,000 in your account day 8 to 30
- Have assumed that there are only 30 days in every month
2.5% = £2.05 a month
1.5% = £2.10 a month
2.5% up to £1,000
Days 1-7 = £0.48
Days 8-14 = £0.48
Days 15-21 = £0.48
Days 22-30 = £0.62
Total Interest Earned: £2.05
1.5% up to £4,000
Days 1-7 = £1.15
Days 8-14 = £0.29
Days 15-21 = £0.29
Days 22-30 = £0.37
Total Interest Earned = £2.10
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How much interest? 
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Also worth mentioning that with the 1.5% option, you’d only need a balance of £1667 to match the max interest paid on the 2.5% option
| Balance Payable | Interest Rate | Annual Interest | Monthly Interest |
|---|---|---|---|
| £1,000.00 | 2.5% | £25.00 | £2.08 |
| £4,000.00 | 1.5% | £60.00 | £5.00 |
| £4,000.00 (Balance is £1,667.00) | 1.5% | £25.00 | £2.08 |
| £10,000.00 | 1.0% | £100.00 | £8.33 |
So if most of the month your acc is above £1667 you’re better off with the £4,000 option surely? I guess it comes down to each individuals cash flow. But let’s say 100% of the month you’re in the bracket of £1,000-£4,000 then I’d go for the £4k @1.5% option as your money is always earning interest at a market leading rate without you feeling like you’re missing out on a savings acc rate somewhere else.
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In this instance for a £4000 balance id rather do £1000 in Monzo and £3000 in Marcus
| Balance Payable | Interest Rate | Annual Interest | Monthly Interest |
|---|---|---|---|
| £1,000.00 | 2.5% | £25.00 | £2.08 |
| £3,000.00 | 1.5% | £45.00 | £3.75 |
The difference is pretty minimal (+83p) but I’d still always personally go for whatever gives most over convenience
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This is true. And I think requiring a lower balance to achieve the max in this situation is actually more convenient too.
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I chose 1.5% on £4K, want it to pay off the Plus fee!
The 2.5% option is nice, but it’s such a small amount of money it’s not really worth it. Doesn’t compare to the Nationwide 3% on £2.5K! Mentioned that in the comments.
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Out of interest (pardon the pun), would the interest rate then drop to zero for balances above these limits or would you earn a nominal amount, say 0.25%?
Similarly, the 1.5% option is matched by savings pots already available on Monzo or in an easy access account like Marcus. There’s absolutely nothing new or “Plus” about 1.5% up to £4k.
The Nationwide option, however, comes on their FlexPlus account which is £14 per month, so obviously it’s not comparable to Monzo’s offering as you already save quite a few pounds per month by default with the latter (which should in some way compensate for the lower rate/cap and anyway both can be used in tandem.)
For me the 2.5% is an absolute no brainer.
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It didn’t specify.
My take was that anything over £1k I can put into a savings pot to continue making a bit of interest on it. I never have anything like £4k in my account, so it’s purely to maximise interest I’d potentially get.
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Thanks to everyone who’s responded to deposit interest survey! We’re enjoying seeing all the responses come through 
we’ll share more soon!
To those of you who are on the Monzo Plus waitlist - good news! We launched with a small number of customers at first to make sure everything was working as it should be, and to make sure it’d be a great experience for everyone. We’re now in a position to start inviting a lot more of you throughout the week, so keep your eyes peeled for your invite 
We’re really excited to give access to even more of you. Thanks for your patience!
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Similarly, the 1.5% option is matched by savings pots already available on Monzo or in an easy access account like Marcus. There’s absolutely nothing new or “Plus” about 1.5% up to £4k.
You can’t put the money in a savings pot if its needed to cover expenses for the month. That’s the point of interest on your main account. That main balance is constantly in flux, pay goes in, mortgage/rent comes out, bills come out, etc. You can’t put this money in a savings account because its going to be spent before the end of the month.
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By the way: make sure y’all keep your app updated. To get the invite and sign up to Monzo Plus, you’ll need to be on at least 2.49, which was released to the App Store about two weeks ago. 
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Exciting! 